Custom Blockchain Solutions for the Insurance Industry

With technology staying at the forefront of every industry, insurance is going with a rapid transformation too. Blockchain Applications in Insurance removes traditional inefficiencies and delivers transparency, automation, and security. We help insurance companies to address key challenges like fraud claims, fragmented data, and delays in the processing. So why not go for faster claims handling, lower costs, and better customer trust using a decentralized and tamper-proof framework of blockchain?

  • check mark Faster Claims Processing check markBetter Fraud Prevention
  • check mark Transparent Policy Management check markEfficient Data Sharing

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Why Netset

Why is NetSet Software the reliable choice for blockchain in insurance?

Leading insurance providers pick us as a trusted blockchain technology companies in india. We combine deep industry expertise with the most modern innovations and top-level creativity while transforming the insurance processes. Some of the key factors that make us the best blockchain development company are below.

01
BFSI Blockchain Expertise

Our track record expands over banking and finance solutions, making us a reliable experience holder in blockchain for financial services like insurance.

02
Highly Custom Solutions

For innovators with unique business requirements, we are recognized for delivering highly customized solutions for insurance companies.

03
Robust Fraud Prevention

While we create blockchain insurance solutions, our focus stays on safeguarding insurance claims and data manipulations from frauds or unauthorized parties.

04
End-to-End Services

We start with the idea of a blockchain solution, design the UI/UX, develop the software, and end with deployment and post-maintenance support.

Our Proven Blockchain Development Process for the Insurance Sector

We have a successful approach towards creating your insurance solution where we first start with the discovery phase to help you create a successful product roadmap followed by developing, testing, and deploying the solution.

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CEO, betfolio

They understood product design and UX well, often foreseeing and executing useful UX features without being directed.

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CEO, DE LA O SYSTEMS

The team's responsiveness to our needs was outstanding.

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Partner, Altima Garrison Millwork Inc

Overall, their project management was exemplary, contributing significantly to the project's success.

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Chief of Staff, Real Estate Company

They were very consistent when it came to updates!

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Managing Director, Incorporation.AI

NetSet's impressive approach to every solution is characterized by their attention to detail.

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Marketing Head, Xtendify

They're quite adaptive to feedback and consistent with progress.

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Technical Product Owner, Engineering Company

We feel that the deliverables have great quality and feature what we've expected from the start.

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Owner, REALZON

They work very professionally and stay on top of everything.

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CEO & Co-Founder, Healthcare App Company

They really valued my time and feedback, and they were able to meet my expectations.

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Founder, Property Reports Company

They're really good at what they do; they're diligent and do exactly what I ask for.

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CTO, FinTech Company

NetSet Software Solutions is simply a responsive business partner.

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CEO, Olive Clothing

Various software migration and third-party integrations were done.

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Founder & CEO , GetInsta

I was impressed with the Netset team by the quick efforts they made in delivering the app before time.

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Founder and CEO, WeMeet

I have had a good experience working with NetSet.

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Founder & CEO, Vision Plan

They managed to understand my intent and work upon it.

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Co Founder, Mchelex

The work and their recommendations to improve the project impressed us.

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Founder, ZipDeal

They absolutely understood my mindset, and the level of communication was off the charts.

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Executive Art Director, the Design Agency

They are easy to communicate with and deliver work on time.

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CEO, Cosmebook

They listened to me and understood my needs.

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Co-Founder, Lab-Test Comparison App

Their expertise and competitive nature make them a great provider of cutting-edge technologies.

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IT Consultant, Software Firm

Their communication was smooth, and the project manager met the deadlines.

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CEO, Bobelle INC

I am very satisfied, and I recommend this company.

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Tech Leader, Astra health

I was impressed by their very enthusiastic team.

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Project Manager, PAAF

Their work quality is great!

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Executive, Lookvast

They were attentive to my needs and delivered the project in a timely manner.

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Founder, Guidalor

It felt like we were one team with a common goal.

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CEO, Dubble Gmbh

Working with Mukesh is smooth and very fast.

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Executive, Entertainment Company

They made sure to meet all of my detailed requirements.

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Sales Head, IDFC bank

I am excited about working with this team toward a promising future.

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CEO, Mortgage Marketplace

They always go the extra mile to meet our timeframes and budget

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CEO, ZAD Food Ordering

The quality of their work is really good.

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CEO, The Marketing Agency

Their expertise and competitive nature make them a great provider of cutting edge technologies.

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CEO, IT Company

Their mobile app development skills blew me away. They knew everything about UX and execution.

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CEO, ROCKETECH

The team was very professional, specifically in the development work.

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CEO, Satisfy

The project management was great and on time.

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Founder, KaCyber Technologies

The team is organized and experienced.

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blockchain-statics

Key Statistics and Industry Trends

Insurance is known for staying at the forefront of technology because of its critical nature. Recent trends show that the transformation is going strong in the industry, where insurance companies look forward to hire blockchain developers India.

  • The rate at which blockchain in insurance is growing is an impressive 65%.
  • Systems using blockchain can reduce insurance frauds by up to 40%.
  • Automated claims cuts processing time by 50% and insurers can reduce costs by 30% using blockchain technology.

Why invest in blockchain-based insurance solutions?

Just like any other sector, blockchain efficiently delivers automation, security, and efficient processing to the insurance sector. Insurance companies used to face issues like data duplication, manual errors, and time delays in the handling of claims. With blockchain for insurance, insurers can create a decentralized ecosystem where customer data, transactions, and claims are linked with real-time access and validation using cryptographic technology. For underwriting, auditing, and claims processing, smart contract development services are playing a key role in letting insurance providers deliver reliable services.

blockchain-to-business

Premium Blockchain Development Services for the Insurance Sector

Reimagine your insurance processes with our premium services as a blockchain software development company for the insurance sector. We create scalable apps to enhance operations through our insurance chain.

Fraud Prevention Systems

Build tamper-proof, shared databases to remove duplicate entries and any fraud claims with our blockchain solutions that can detect anomalies and deliver the best of authenticity at every stage.

Claims Automation with Smart Contracts

Handle claims with ease using smart contracts that trigger automatic payouts on the basis of the policy terms. It minimizes any manual intervention and also reduces the chances of errors.

Decentralized Policy Management System

Manage insurance policies with top notch transparency using blockchain systems where the policy holders and insurers see real time updates and get access to all the necessary information in a decentralized environment.

Peer-to-Peer Insurance Models

Make existing P2P insurance frameworks better with blockchain, as it facilitates automated processes and allows insurance parties to hold the shared funds securely without any disruptions.

Parametric Insurance Solutions

Let smart contracts handle payouts for parametric policies using top-class automation where the claims are triggered seamlessly for events like natural disasters so that policyholders do not have to unnecessarily wait.

Reinsurance Simplification

Remove the complexities associated with transactions between insurers and reinsurers using the shared ledger of Blockchain giving real time access to the data of policy and remove chances of errors in the reinsurance process.

Let’s transform your healthcare organizations with the power of blockchain.

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Future-Proof your Digital Assets with Modern Blockchain Business Parameters

High Immutability, Programmability, and Interoperability.

👉 Decentralized Finance (DeFi)

DeFi brings a paradigm shift in the financial infrastructure, eliminating the need for a traditional centralized system and deploying a decentralized architecture that is authority-independent and keeps intermediaries at bay.

Decentralized Finance is a global open-source technology system that is opaque and tightly controlled and offers extreme visibility over your financial assets.

👉 Distributed Ledger Technology (DLT)

DLT empowers the digital market for trade, influencing every conceivable part of society. Apart from blockchain as an example, DLT can be harnessed to the next level transforming many business sectors, making them more efficient, resilient, and reliable.

(like replacing activities that are inefficient and manual: data maintenance in payment and settlement systems, trade finance, & tracking the provenance of agricultural products/commodities, etc.)

👉 Decentralized Applications (DApps)

Processing data via blockchain distributed networks and executing transactions with smart contracts, DApps can be combined with powerful software tools that can be applied across distinct industry spheres.

DApps eschew centralized servers to transact in a distributed & peer-to-peer fashion and are outside the control of a single authority.

Our Design Thinking Driven Process

Our Design Thinking Driven Process

Blockchain’s Wide Set of Benefits to Reap

Blockchain is here to stay and benefit businesses as earlier. Take a look at a few of the advantages of the newest bet technology, escalating your business gains.

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FAQs

Data duplication and slow claims processing are the main challenges faced by the insurance industry. Blockchain uses a decentralized ledger to remove data duplication and smart contracts automate the claims processing, solving key challenges and transforming the insurance sector.

Yes, and it's because of the smart contract, which automates the claims execution. This removes the need for manual intervention and delivers the best of efficiency..

The shared immutable ledger does the work here, making data manipulation virtually impossible as it detects duplicate claims and makes sure that all transactions are authentic and secure.

Insurance claims are processed and checked under multiple conditions to finally get a passed status. Parametric insurance solutions based on blockchain automatically check the predefined conditions and once the condition is met, it triggers the payout into the account of the policyholder.

One of the best traits of blockchain is that it scales seamlessly as the data sets and business requirements grow. They integrate smoothly with legacy systems, giving reliable performance.

The implementation timeline differs by project scope because some projects have complex requirements as compared to some other projects that might demand faster and less complex solutions. For a non-complex project, it takes around 3 months and for complex projects, it may take 6 months to even a year.

Simply because of security, efficiency, and transparent processes. This developer's trust and loyalty among the customers and decreased operational costs are much more efficient for any business in the long run.

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